1. In regression analysis, which of the following is described by the following definition? The amount of change in the value of the response variable (Y) for every unit change in the predictor variable (X)
a. R
b. R2
c. a (y-intercept)
d. b (slope)
e. fitted y
2. Which of the following interval estimates is used when one wants to estimate the true value of a response variable (Y) for a given value of the predictor variable (X) using a linear regression equation?
a. Confidence interval
b. Prediction interval
3. Which of the following interval estimates is used when one wants to estimate the true average value of a response variable (Y) for a given value of the predictor variable(X)?
a. Confidence interval
b. Prediction interval
4. Which of the following measures the amount (in percent) of variability in the response variable as explained by a regression model?
a. correlation coefficient (R)
b. coefficient of determination (R2)
c. standard error of the estimate (sy/x)
d. multicollinearity
e. none of the above
5. Which of the following will be considered as a dummy variable in a multiple regression model to be used for predicting the assessed value of homes in a certain community?
a. Location
b. Type of roofing
c. Type of heating (gas or electric)
d. Number of bedrooms
e. All but (d) levels